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Bus fare hike to pull TSRTC out of its debts: Minister Puvvada
Bus fare hike to pull TSRTC out of its debts: Minister Puvvada
The hike in the bus charges of TSRTC can pull the corporation from its debts, said Transport minister Puvvada Ajay Kumar during the review meeting along with TSRTC MD VC Sajjanar and chairman Bajireddy Govardhan in Hyderabad.
The hike in the bus charges of TSRTC can pull the corporation from its debts, said Transport minister Puvvada Ajay Kumar during the review meeting along with TSRTC MD VC Sajjanar and chairman Bajireddy Govardhan in Hyderabad. "A proposal has been sent to the government on increasing the bus fare of about Rs 25 paise per kilometre on Palle Velugu and Rs 30 paise per kilometre on other bus services," he said.
He continued that the TSRTC losses can be minimized to some extent if the bus fare is hiked and added that the corporation has suffered Rs 4,260 crore losses in the last three years. "There is no other way to minimize the losses of RTC except for increasing the bus fares," Puvvada Ajay Kumar said.
During 2018-19, the TSRTC managed to rake in Rs 4,882 crore and the expenses were at Rs 5,811 and the same was followed in 2019-20, when the RTC earned Rs 4,592 crore while the expenditure was Rs 5,594 crore. A total of Rs 1,002 losses were incurred. And during the year 2020-21, the RTC earned Rs 2,455 crore when the expenses were Rs 4,784 crore adding another Rs 2,329 crore losses, the minister said.
